A new logo for the Brooklyn Nets, designed by co-owner Jay-Z, is already breaking business records for the team.

The Brooklyn Nets announced Wednesday that Brooklyn Nets-related merchandise featuring the new black-and-white logo has been the top-seller of all NBA teams at NBAStore.com and at the NBA Store on New York's Fifth Ave, comprising 27% of total sales for the two retailers combined.

Jay-Z Designs New Brooklyn Nets Logo

Merch sales through BrooklynNets.com have also more than doubled the team's total sales for the 2010-11 season since the new merch went on sale Monday. Another sports retailer, Modell's, reported more sales of Nets merch on the first day of launch than all of last season.

The new logo has also generated strong interest in the team's upcoming games, with ticket sales selling out of three price points and traffic to BrooklynNets.com increasing by 1,700% since Monday, according to the team's press release. The Brooklyn Nets are the borough's first official sports team since 1957.

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"The interest in our brand identity launch has dramatically exceeded our expectations," Brooklyn Nets CEO Brett Yormark said in a statement. "JAY Z's logos and color scheme combined with our Brooklyn identity are proving to be a powerful draw for fans. It's been 55 years since Brooklyn has had major professional sports and it's clear the borough is excited for its new home team. As our merchandise and ticket sales are flourishing, we have also seen a huge spike in our digital fan engagement, with Brooklyn Nets trending nationally on Twitter on Monday. We are proud to say, 'Hello Brooklyn'."

Jay-Z will extend his relationship with the team and the fall launch of Brooklyn's Barclays Arena in September when he kicks off a series of concerts from the new venue.

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